"The authors have produced a comprehensive guide to becoming a successful mortgage originator. The book will benefit both the entry-level and seasoned originator."
—Anthony N. Gugliotti, Vice President, Naugatuck Savings Bank
"The High-Income Mortgage Originator is a must-read for anyone starting out in the industry or changing careers. I found that the book clearly illustrated the necessary information, skills, and knowledge needed, complete with forms and tools, to get started in the business. More importantly, the authors emphasized the service side of the mortgage business, which would greatly benefit someone just starting out."
—Mary Sue Cavanagh, Executive Director, EntrepreneursNOW, Inc.
"The author writes step-by-step procedures in detail, spelling out regulations and including forms. Key communication skills and operating practices are explained throughout the text. This book truly will provide a business opportunity for readers who take it seriously!"
—Byron Eddy Waterman, EdD, Connecticut Adult Education System
From the Inside Flap
Master The Art Of Selling Mortgages!The High-Income Mortgage Originator is your guide to a rewarding sales career in a growing field. What could be more satisfying than helping a young couple buy their first home, or helping a parent fund a child's college education, or helping an entrepreneur start a dream business—all while you make a great living?
Mortgage originators not only experience the satisfaction of helping people borrow the money they need; they get to be their own bosses, Mortgage Locator make their own rules, and make plenty of money. Whether you're looking for your first job or transitioning from a corporate position, The High-Income Mortgage Originator gives you all the tools to grow your wealth and your career in real estate finance.
This comprehensive guide not only provides a beginner's course on getting into the business, but also provides references, examples,and business practices that lead to high incomes. It teaches proven principles and practices in customer service, marketing, and lead generation that will build your reputation—and your business.
For example, you'll learn how to mount an effective marketing campaign to bring in more business than you can handle. You'll also read sample scripts that help you talk to prospects and bring them into the buying process without using pressure or gimmicks. Plus, you'll master the art of selling mortgages, understand every step of the mortgage process, deliver effective sales presentations, learn to evaluate mortgage applications and credit reports, and draft loans that make all parties happy.
Becoming a mortgage originator is a proven path to financial freedom, and good mortgage originators can make great money even in bad markets. The High-Income Mortgage Originator gives you the tips, advice, and best practices you need to build a thriving business with a growing and loyal customer base.
I was hoping to find special strategies here for exceeding normal sales targets using systems, special methods, or tools unique to the loan industry. This book is part "sales 101" and part "mortgage 101". The high income mortgage originators I know make 8-10 times as much as the average originator. I am curious to know, what do these originators do differently?
With 10 years of sales experience in other fields, I expected to find lead generation, pipeline management, sales strategies, pricing/markup information, hard-to-find salary/commission background for the business, and business-to-business networking advice tailored to the loan origination field. Maybe some information about how to make use of assistants or how to put together a support team. The sales strategies in this book are very basic and broad reaching, focusing on the basic rules of successful sales:
1. Know your product
2. Do what you say you're going to do, when you say you're going to do it
3. Set aside time to prospect every day, and keep track of your prospects
4. Manage your workday with purpose and efficiency
5. Follow up with your existing clients to generate repeat business and referrals
None of these ideas are specific to mortgage origination, nor is there any information about ways to handle YSP or origination fees, negotiate better wholesale rates, or increase your commission split within your company. These are all the primary ways originators generate income.
There is very good information about the different types of loan products available, but if you're already licensed, you should know all about these products without being told again.
If you're already a seasoned sales pro, this book won't tell you anything you don't already know, but could serve as a good reference when you need a reminder of good habits.
If you're new to both sales and mortgage origination, this is probably a great book to start with. I'd recommend it for someone already in the lending field who has never done sales before.
This book is truly the single most helpful book I have ever read on the subject Mortgage Locator. It's concise and to the point nature makes what is usually a dry topic into a quick and surprisingly enjoyable read. I highly suggest you pick up this book it will help you more than you can imagine. If I could give it more than five stars I would. 10/10
While this book covers a lot of ground, much of it focuses on exactly what GOT us into trouble in the market!
Greed and sleazy tactics are responsible for a tarnished reputation in the industry, and the meltdown was caused by people looking for high incomes instead of borrower best interests.
Wasn't what I expected.
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